Boston, MA – (June 13, 2018) GID announced today that it has acquired The Allure, a 282 unit apartment community located in Boca Raton, Florida. The property is situated at the corner of Congress Avenue and Clint Moore Road, offering excellent proximity to Boca Raton’s largest employment centers including the Park at Broken Sound, an office park adjacent to the site that includes over 5.2 million square feet of office space.
Completed in late 2017, the 12.35 acre site consists of two four-story, one six-story and two seven-story residential buildings, as well as a one-story clubhouse and leasing office. The property offers a mix of one bedroom, two bedroom and three bedroom units with an overall average unit size of 1,027 square feet. All units feature nine-foot ceilings, keyless entry and kitchens offering quartz countertops, tile backsplashes, plank flooring and stainless steel appliances. Amenities include a resort-style swimming pool with an outdoor kitchen area, expansive club room, dog park, a fitness center with a spin/yoga studio and a package locker system.
Jesse Shapiro, Vice President of Acquisitions for GID commented, “The purchase of The Allure highlights our continued expansion in Southeast Florida. We are pleased to acquire a high-quality physical asset in a desirable residential community such as Boca Raton that also provides ease of access to a number of key office submarkets. We are optimistic for the long-term economic growth prospects of Southeast Florida.”